Finex raises Covid-19 relief funds

The Financial Executives Institute of the Philippines (Finex) Inc. is raising funds to help combat the coronavirus disease 2019 (Covid-19) pandemic.

In a recent statement, Finex Research and Development Foundation Inc. is soliciting and pooling donations from members and their companies to raise funds.

Half of the donation will be allocated for the Philippine Disaster Relief Foundation that will acquire Covid-19 testing kits and personal protective equipment for medical frontliners.

The remaining half will be given to the ABS-CBN Foundation Inc. to buy food and other basic necessities.

“Many of our countrymen, especially the daily wage earners and others who eke out a living on a day-to-day basis, are running out of food and resources to keep their families alive during this enhanced community quarantine period, which may even extend beyond its initial one month term,” Finex said.

The organization said trustees of the Finex Foundation have already pledged an amount of P130,000.

Finex said it expects more pledges from the trustees, members of its board of directors and the trustees of the Finex Academy Inc.

It added that foundation trustees have agreed to match whatever amount Finex members may donate for this project up to a maximum amount of P1 million.

Earlier, Finex called on the government to release funds for emergency calamity amelioration, with focus on the most vulnerable sector of the country.

The 52-year-old organization of financial executives also urged government-owned and -controlled corporations to pool resources for the proposed emergency calamity fund.

The funds should be allocated to money and food for the poor, and small and medium enterprises, both of which were significantly affected by the ongoing Luzon lockdown, Finex added.